Visa launches a stablecoin platform, planning to open stablecoin services to more than 200 million merchants

Deep Tide TechFlow news: On July 16, according to Fortune, Visa announced the launch of a Visa stablecoin platform, providing banks and fintech companies with a stablecoin processing system that can be embedded into existing payment and treasury management workflows to help institutions manage stablecoin business within Visa’s existing infrastructure. Visa said it processes about $150 trillion in payments per year and has completed stablecoin settlements worth billions of dollars. With this move, it hopes to drive stablecoin services for its roughly 15,000 financial institution customers and more than 200 million merchants by adopting a more simplified platform.

The platform’s initial rollout will support OUSD, the stablecoin newly introduced by the Open Standards Alliance, and will complement the USD-pegged coins and other global USD stablecoins that Visa already supports. Visa said the platform will integrate its existing stablecoin-related services, focusing on reducing technical complexity so that customers can more easily incorporate stablecoins into payment settlement and funds transfer systems. Meanwhile, major payment companies such as Mastercard and American Express are also accelerating their plans around stablecoin infrastructure.